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5.0

Overall Score

LAST UPDATED: March 26th, 2024

Chase, which is the consumer and commercial banking arm of JPMorgan Chase & Co., offers checking, debit card, investment, credit card, and mortgage services. 

Chase's auto financing branch offers competitive rates on loans for new or used cars, as well as a variety of refinancing options for existing auto loans. More than 3 million customers finance their car with Chase. Here are some quick stats: 

  • Minimum loan amount: $4,000
  • Maximum loan amount: $60,000
  • Available loan terms: 48-72 months

If you have an excellent credit score, annual percentage rates (APRs) start as low as 3.5 percent; however, if you have less than stellar credit history, rates will be higher, up into the twenties.

Whether a customer has to pay an origination fee depends on their state of residence. 

People 18 and older can apply for a loan online to get approval. Application requires a credit check and can, therefore, show up on your credit report. Loan details will be sent to the in-network dealer, where you can present the approval. 

Cash down payments are not required, but of course, this can decrease the total amount of money owed, as well as your monthly payments over the course of your loan term. 

Monthly car payment can be made via automatic payments, via your online account or the Chase mobile app. 

Keep reading for pros and cons, plus Chase auto loan reviews from customers.

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The Good

  • Loan Calculator
  • Co-Signer Financing
  • Customer Refinancing Discount
  • Chase Auto Preferred

Loan Calculator

The Chase loan calculator offers users the capability to compare auto loan rates and options at once. This helps users to assess which loan is best for their financial needs; users can simply plug in a few numbers and see their results.

Co-Signer Financing

Chase accepts co-signers on all car loans, which is a benefit for individuals with little established credit or for couples who want to apply together. This can help improve the odds of loan approval, or of receiving better APR on an auto loan.

Customer Refinancing Discount

Borrowers who are approved for a Chase car loan will receive a .25 percent APR discount on a refinancing rate if they have a checking account with Chase. This is a great discount for members, or for people who would like to become Chase members.

Chase Auto Preferred

If you are lucky enough to live in Phoenix, consumers can take part in the Chase Auto Preferred program for free, with no deposit. This car buying concierge service is available at 19 participating locations, requires no deposit, and is available with a wide variety of car brands participating:

  • Buick
  • Cadillac
  • Chevrolet
  • Chrysler
  • Dodge
  • Ford
  • Genesis
  • GMC
  • Honda
  • Hyundai
  • Jeep
  • Kia
  • Lexus
  • Ram
  • Toyota
  • Volkswagen

Anyone who wants to buy or lease a car in the Phoenix area can participate. Having an existing Chase account isn’t necessary to participate.


Participants get discounted pricing, a concierge, a dealership employee that is specially assigned to walk you through the process, including test drives and trade-in evaluation, etc.


You will work with the concierge to see your different financial options, including Chase. However, customers aren’t required to use a chase product or service for their car. They can use whichever lender gives them the best loan options.

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The Bad

  • Vehicle Financing Restrictions
  • Approval Time
  • Lack of Transparency

Vehicle Financing Restrictions

Chase only finances vehicles at participating dealership partners. It will not finance cars that will be used for racing, taxi, chauffeur, limousine, or other commercial purposes. Chase also does not offer loans for certain vehicle brands, motorcycles, boats, or RVs.

Borrowers who want to finance a recreational vehicle or a car to be used for work purposes will need to opt for another lender.

Approval Time

Unlike most of the other lenders we reviewed, which can notify borrowers of approval within minutes, Chase's approval typically takes 2-3 hours, but the company’s auto finance website says that the credit decision can take up to three business days. This may create a delay for borrowers who are hoping to quickly get approval and head out to the dealership.

Lack of Transparency

Chase is a well-known credit card issuer, but its website is lacking a great deal of information we expect to see on auto loan company websites. This information is important to customers who are shopping around for the best company that fits their needs. It is also difficult for our team to rank Chase with other companies in the auto loan industry without this information. We would like to see more transparency regarding application fees, APR ranges by credit score, as well as early payment and late payment fees.

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The Bottom Line

Chase offers several products and services for auto customers. refinancing discounts, co-signer options, and great financial tools on its website.


However, approval may take between a few hours and a few days. Additionally, Chase’s auto finance website lacks a great deal of information about available rates, depending on credit score, and all applicable account fees.


Because of these reasons, we cannot recommend working with Chase auto finance at this time.

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Star Rating

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3.9

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54 Reviews

Review Breakdown

5 grade

52%

4 grade

19%

3 grade

11%

2 grade

2%

1 grade

17%

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Allison Talbot Riverton, UT

I have my car lease through Chase. I know I can trust them with my finances. I have had car loans through credit unions and there are always problems, but Chase is professional, easy to work with, and a big enough company that I feel comfortable using them for such a big purchase.

8 months ago

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Chris Alonzo Gilbert, AZ

I received ed My first car loan from Chase. Their customer service was exceptional and when I finally Made my last payment the customer service rep was very excited with me. It felt more like a family based service and they were always willing to help me when I needed It throughout the loan. This was definitely a great experience when buying your first car.

5 years ago

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Jerry Bentonville, AR

Chase gave me credit for a car loan at a great rate brand new Toyota Highlander in 2014. Paid it off in 2020, easy company to deal with, great customer support

7 months ago

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Eddie Rios Ogden, UT

Chase has given us one of our best car loan packages to date. It had the best rate hands down, and made the application process very easy. Managing the account month to month was also hassle free. No other bank compared to its convenience and service.

4 years ago

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Joanna Hester Gilbert, AZ

We do all our banking with Chase....personal, business, and most recently, a car loan. The process was fast and easy, and we got a great rate. I love having everything at one bank and love the smiles and customer service I receive whenever I go there.

5 years ago

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Kaleb Herbert Gilbert, AZ

This was the easiest car loan process I ever had. It was all done through the mail, and I received a lower interest because I was a bank customer and even lower because I had my payment directly paid out of my account. Everything was finalized in about 5 days.

5 years ago Edited September 14, 2021

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Joseph Tempe, AZ

Used Chase for my Dodge Durango Auto loan, very easy to work with and any issues are handled by customer service promptly

9 months ago

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Anita pea Dallas, TX

Chase Bank his offer me magnificant loans for my car. They were super nice about it and help get it done and in a short of time which was perfect for me

4 years ago

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TEDDY KONUGKIS

Effortless service in getting product also when car loan is paid off you receive the closing documents without having to hunt them down.

5 years ago

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Mat A Rancho Cordova, CA

Chase is an outstanding bank. I do all my vehicle loans through Chase and they have been wonderful. They treat me with respect and the are always a pleasure to see.

3 years ago

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Anthony Sgambati Rocklin, CA

Chase carried my car loan, it was a piece of cake! They set up direct withdraw from my account, and made it easy to walk away with my new car at a competitive interest rate!

5 years ago

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Kristie Sgambati Rocklin, CA

I have my car loan with Chase, they have provided excellent customer service and assisted me in direct withdraw as well as refinancing. They have been amazing to work with.

5 years ago

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Christina Amato

Easy to pay on my phone. Never even have to think about it. I can check the balance of my loan at any time.

5 years ago

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CAROLE SCOVILLE Pleasant Grove, UT

Love the online car loan! Paid it off early and didn't have to do tons of paperwork etc. I love doing all my banking online!

5 years ago

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Jeff Martin Layton, UT

Was with Chase for a number of years and I don't have any complaints. Friendly staff that would always remember my name and efficient banking.

5 years ago

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LeAnn Baytown, TX

We have used Chase for multiple car loans. Never had an issue. Great customer service.

2 years ago

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Patty Miles

anytime i've had a problem they are right on top of things to resolve any problems

5 years ago

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bobby deter Cumberland, MD

My BMW was financed through them.. Loan process was easy and simple

2 years ago

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Rick Galliher

haven't had a car loan in years, but Chase offered 0% so how could we not?

5 years ago

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Nicole Johnson Portland, OR

I have used Chase since I first had a credit card and I have always enjoyed banking here.

3 years ago

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Howard Friedman

outstanding and timely answers to credit request

5 years ago

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Dave R.

0% interest for 60 months on a new Auto loan

5 years ago

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lawrence Tommer II Kent, WA

Never let me down always dependable always there for me

6 years ago

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Emily Hamilton Orem, UT

These people are so nice! They are willing to help and work with you.

2 years ago

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Amber Williams Salt Lake City, UT

Great company, good interest rates easy to use online sevices

2 years ago

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Julie Martinez Mesa, AZ

They make paying the loan very efficient and low interest rate!

5 years ago

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A Craw Draper, UT

Excellent customer service and banking services.

5 years ago

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Michael Ogden, UT

Great bank. Loan office was very friendly

5 years ago